Former BHS owner Dominic Chappell reportedly owes more than £500,000 in tax on profits he made from owning the collapsed chain.

According to The Guardian, HMRC has initiated legal proceedings against him to recover the money.

However, Chappell has put the business that owes the tax, Swiss Rock Limited, into liquidation, meaning the bill could be written off.

Swiss Rock owes £365,000 in VAT and £196,306 in corporation tax, according to documents drawn up by Chappell and David Rubin & Partners, which has been appointed as liquidator.